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Maybe I'm too pessimistic, but sometimes I feel that bloc got all the goodies at everyone else's expense. This isn't a typical 'boomers' or anything argument a

Maybe I'm too pessimistic, but sometimes I feel that bloc got all the goodies at everyone else's expense. This isn't a typical 'boomers' or anything argument against the people, but perhaps the demographic itself and the way politics played out. Pensions are unheard of now, and companies are still struggling to keep up with them, likely meaning lowered wages for the next group(and no pensions). Tough luck. I fully expect to pay social security my entire life to subsidize those getting it now, and to be dead before I'm ever able to collect a dime. Honestly, even having paid into it my whole life, I wish they'd just kill it off. It's an unsustainable pyramid scheme, especially as birth rates flattened. Even if I do live long enough to collect, I don't want that burden on the next generations. The age is going to keep being raised. A quarter of Americans don't even live to 'full retirement age.' And when it's raised so high it's profitable, the USG is just going to raid it like a slush fund.

phpisthebest 4y ago
>>I feel that bloc got all the goodies at everyone else's expense Pensions and SocSec were both Ponzi Schemes, Only government could allow something so fraudulent to legally exist. (Interesting Fact, the original SocSec retirement age was 2 years higher than the Life Expectancy Age, now it is something like 8-10year lower... ) It could have kept working provided the population continued to grow at an ever increasing rate keeping the worker to retired person ratio at 10:1, but 2 or 3 generations of declining birth rates, and low immigration means the scheme is coming apart More so your 401K is currently, and will continue to be reduced in value as the boomer take more and more capital out of the market for their final years. I think we will need to reassess what "normal" returns on a 30 year portfolio looks like as well, in addition to inflation which I think will stabilize at more than the target 2%.. Simply put.. we are economically stag net, and if you are under 40 retirement will be much harder

phpisthebest 4y ago

>>I feel that bloc got all the goodies at everyone else's expense Pensions and SocSec were both Ponzi Schemes, Only government could allow something so fraudulent to legally exist. (Interesting Fact, the original SocSec retirement age was 2 years higher than the Life Expectancy Age, now it is something like 8-10year lower... ) It could have kept working provided the population continued to grow at an ever increasing rate keeping the worker to retired person ratio at 10:1, but 2 or 3 generations of declining birth rates, and low immigration means the scheme is coming apart More so your 401K is currently, and will continue to be reduced in value as the boomer take more and more capital out of the market for their final years. I think we will need to reassess what "normal" returns on a 30 year portfolio looks like as well, in addition to inflation which I think will stabilize at more than the target 2%.. Simply put.. we are economically stag net, and if you are under 40 retirement will be much harder